“We estimate that the likely annual cost to the global economy from cybercrime is more than $400 billion.”

Do you have a clue how much money that is?
According to the report: more than the national income of most countries

Like most bloggers I cannot judge whether this number is too high or too low. Lots of arguments for either side might be made. Given the title, I assume that these numbers are the losses only and do not include the cyber security costs implied for preventing the losses from becoming larger. The report also states that a large fraction of damages are not reported and that statistics in different countries are quite different.

I found the following table interesting, putting the costs into some perspective: